Yahoo Finance Golden Ocean Group (GOGL) Increases Despite Market Slip: Here's What You Need to Know
The latest trading session saw Golden Ocean Group (GOGL) ending at $13.82, denoting a +1.69% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.46%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 0.64%.
Shares of the shipping company witnessed a gain of 6.34% over the previous month, beating the performance of the Transportation sector with its loss of 8.93% and the S&P 500's loss of 3.04%.
The investment community will be closely monitoring the performance of Golden Ocean Group in its forthcoming earnings report. The company is forecasted to report an EPS of $0.23, showcasing a 1050% upward movement from the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.52 per share and a revenue of $839.38 million, indicating changes of +157.63% and +31.23%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Golden Ocean Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Golden Ocean Group is carrying a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Golden Ocean Group is currently trading at a Forward P/E ratio of 8.94. This signifies a premium in comparison to the average Forward P/E of 7.69 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Golden Ocean Group Limited (GOGL) : Free Stock Analysis Report
